Catching Up
Late-Starter Larry
High School History Teacher · Cleveland, OH
52, $38k in retirement savings, and finally paying attention.
About Late-Starter Larry
Larry spent his 30s and 40s raising three kids on a teacher's salary. He has $38k in a 403(b), a paid-off car, and a mortgage with 11 years left. He's starting to think seriously about retirement for the first time — and the numbers are sobering.
Financial Snapshot
$64,000
Annual Income
$91,000
Net Worth
52
Age
Late-Starter Larry's Story — 2 Chapters
The Wake-Up Call
Larry turns 52 and finally opens his 403(b) statement. $38,400. He runs the 4% rule backwards: at his current savings rate, he can sustain $1,536/year from savings in retirement. Social Security will cover the rest — but only if he waits until 67.
Uses: fireThe Catch-Up Contribution(Coming soon)
Larry learns about the 50+ catch-up contribution rules. He can add $7,500 extra to his 403(b) per year. If he cuts his cable, his gym membership, and his daily coffee shop habit, he can find $625/month. The model shows what that does to his retirement date.
Uses: roth-vs-traditional